1. The customer inserts his bankcard in the
ATM and requests a withdrawal.
2. The ATM dials a toll-free
number to contact the appropriate network such as Star® Plus® or
Cirrus®, which then contacts the customer's financial
institution.
3. The customer's funds are verified by his financial
institution.
4. If funds are verified, the transaction is
approved and the customer receives cash from the ATM.
5. The
withdrawal amount and the surcharge are debited from the
customer's account.
6. The transaction is processed through
the Federal Reserve's automated clearing house.
7. Both the
surcharge and the withdrawal amount are electronically
deposited in the ATM owner's account.
